In July 2014, the House of Lords EU Sub-Committe on Economic and Financial Affairs launched an inquiry into the EU financial regulatory framework, with a view to assessing whether it is succiently robust to prevent future financial crises.
In its written evidence to the Committee inquiry, the IRSG set out its support for the EU’s efforts to improve the regulatory framework for financial services and to implement the G20 Pittsburgh agenda. This was necessary to remedy the serious failures in the existing regulatory framework that were exposed during the financial crisis. However, the IRSG raised some concerns, including:
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